Egypt is a key bottleneck in the global oil industry. Should the current turmoil in the North African country get any worse, a potential oil spike could damage any nascent economic recovery.
After last week’s bloody crackdown by the Egyptian army, fears of a disruption of oil supplies to the West have boosted the oil price. Brent crude prices were propelled to a four-month high of $111.23 on Thursday. If the turmoil gets worse – or unrest spreads to other countries – the risk premium currently factored into the price of crude is likely to increase further.
Egypt is not a major energy exporter, producing a nominal amount of the world’s oil and gas. The North African country appears at number 54 on the list of the world’s largest oil exporters, producing about 0.9pc of the world’s oil and 1.8pc of global natural gas supply.
However, Egypt plays a vital role in international energy markets through the operation of the Suez Canal and the Suez-Mediterranean (Sumed) pipeline. These are vital pieces of infrastructure in the global oil market.
Greg Laurie urges American’s to emulate founders of 1787
As we look to celebrate our nation’s birthday on July 4, I think about all that is great about the United States. I have had the opportunity to travel around the world. I have visited some great countries. But I am partial, and I believe that the United States of America is still the greatest country on the face of the earth. As Sen. Marco Rubio recently stated, it’s the “Miracle of America.”
However, I believe we are at a historic crossroads, much like our Founding Fathers faced that fateful summer in Philadelphia in 1787. They found themselves – 11 years after the Declaration of Independence – facing economic depression, social unrest, interstate rivalries and foreign intrigue. Sound familiar? Those could be today’s headlines.
In the face of this discord, these men tackled the onerous task of uniting disparate voices.
Iraqi authorities have suspended the licenses of 10 satellite channels because of a rise in sectarian unrest.
Al-Jazeera TV and Sharqiya are among the channels accused of “inciting violence”. A ban has been imposed on their operations across Iraq.
More than 170 people have been killed in less than a week and PM Nouri Maliki has spoken of a “wave of sectarianism” in Iraq that began abroad.
An army raid on a Sunni protest camp on Tuesday sparked widespread clashes.
More than 20 people died at the camp, in the northern town of Hawija, near Kirkuk, prompting two Sunni ministers to announce their resignation. Demonstrations spread to Ramadi and Falluja in western Iraq as well as towns and cities elsewhere in the north.
TV channels affected
- Baghdad TV – belongs to Islamic party
- Sharqiya and Sharqiya News
- Babiliya – belongs to Sunni deputy PM
- Anwar2 (Shia Kuwaiti channel)
- Al-Jazeera, HQ in Qatar
The protesters accused the Shia-led government of discriminating against Sunnis and demanded the resignation of Mr Maliki, himself a Shia.
The Iraqi Communication and Media Commission said in a statement that the satellite channels had “exaggerated things, given misinformation and called for breaking the law and attacking Iraqi security forces”.
The watchdog complained of a “sectarian tone” in the TV coverage and said “undisciplined media messages exceeded all reasonable limits” and threatened to “jeopardise the democratic process”.
BBC Baghdad correspondent Rafid Jaboori says most of the 10 channels are Sunni-owned while Qatar-based al-Jazeera is perceived as more pro-Sunni in its Arabic-language reporting in Iraq.
The head of al-Jazeera’s Baghdad bureau, Omar Abul-ilah, told BBC News that it was not yet clear whether or not the suspension covered its English-language operations as well as its Arabic programming.
The director of Baghdad TV, which is owned by the Iraqi Islamic party, told the BBC that he was waiting to hear from the authorities what action would be taken.
Several people were killed on Friday in bomb attacks on two Sunni mosques in Baghdad. On Saturday, another 10 people, including five soldiers, were killed by gunmen close to the main Sunni protest camp west of the capital.
On Saturday, Mr Maliki appeared to blame the conflict in Syria for the surge in sectarianism as he warned of strife “knocking on the doors of everyone”.
UN envoy Martin Kobler has also called for restraint, describing Iraq as “at a crossroads”.
March 6, 2013
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‘God, Guns and Constitution’ leader fears ‘civil unrest’ coming
WASHINGTON – The highest levels of the U.S. government are fomenting “civil unrest” that soon could leave “blood in our streets,” a key Christian pastor said Tuesday at a pro-Second Amendment rally in Washington.
His goal now is “strengthening the [righteous] remnant.”
At the foot of the Capitol Tuesday, Owens was joined by other leaders to pledge to protect the Second Amendment and the Christian principles of America’s founding.
Owens was joined by Larry Pratt, executive director of Gun Owners of America; Eric Pratt, the group’s communications director; Day Gardner, founder and president of the National Black Pro-Life Union on Capitol Hill; and William Cook, founder and executive director of the Black Robe Regiment.
“From what we see in our mail, hear from our members, we are at the line in the sand moment,” Larry Pratt told WND after the event.
The leaders said their assembly was “in response to President Obama’s proposal of 23 executive actions to curb gun violence.”
Larry Pratt said Obama’s moves have “renewed and even awakened … the determination to get politically involved and resist what is being crammed down our throat by an illegitimate government.”
“The entire federal government acts as if we have no Constitution at all, as if there were no limits to anything they could do,” he said. “It never seems to cross their mind that there are very few things they are allowed to do. We are dealing with a systemic problem of illegitimacy across all branches of government.”
Owens said the goal of today’s event was “to raise awareness that you wouldn’t have a Constitution without guns and you wouldn’t have the need to protect this land without God.”
“So you have to have God in the midst of every picture that exists,” he said.
Owens said the problem with violence doesn’t rest with guns but with people.
He believes America is dealing with an “evil.”
It is not “guns and not ink pens, it is not cars, it is evil,” he said. “For when we forsake God’s purpose for why this country was formed and for why it is here, anything can be turned into evil, including an ink pen.”
He said, “Ink pens sign a lot of laws that are evil.”
Owens challenged a common gun-control mantra of needing “common sense gun control” such as restricting the size of magazines.
“What is common sense? [The anti-gun left] want to take a word and say, ‘This is what common sense is.’”
He called for a return to the faith of the Founders.
“We have a form of godliness, but we deny the power thereof,” he said.
He injected a measure of hope, however, saying a “righteous remnant still exists that is not going to cowtow or subjugate themselves to the things of men … because they are going to be compelled to stand for the Truth that they have a relationship with.”
In America, he said, authorities “have put the Bible and prayer out of schools” and “replaced them with condoms.”
“What is happening now is that our schools are actually being targeted by those who are deranged, those who are evil and those who are trouble,” he said.
Cook named abortion as another evil.
“Is there any hope to answer [the problems of society]? The answer is a resounding no, so long as we tolerate abortion and we view children as a liability,” he said.
He renounced any notion that simply not partaking in an abortion or somehow being morally opposed without action negates one’s responsibility.
“Our unwillingness to contend with [abortion] makes us willing accomplices,” he said.
Asked by WND if America is largely a nominal Christian country, considering how many people vote for big government and anti-Christian and non-Christian leaders, Owens said, “That is absolutely correct. I think that is why we are being judged.”
“Christianity is being brought to the test room, and that is why [school shootings] are happening,” he said.
Pratt also chimed in on the problem of apathy.
“Apathy has been a real problem, but I think there is a possibility that that is going away as the government is literally pushing us more and more … and then the government may realize they have awaken the sleeping giant,” he said.
Pratt does have hope for a political revival, because he sees “a resistance that is definitely across the country, but it is noticeable in certain counties where the people have elected sheriffs that have interposed themselves between themselves and federal agents.”
He said the government is “not going to restrain itself.”
“Only a sheriff with his armed deputies and perhaps on occasion a posse that he can summon that can stand against the federal government,” he said. ‘It is happening already where sheriffs are arresting federal agents.”
Pratt dismissed any notion that the Supremacy Clause of the Constitution invalidates state or local laws that contradict federal law.
“The Supremacy Clause only affects those areas Article 1 section 8 and when the federal government acts outside of those very limited areas it is illegitimate,” he said.
Pratt advises Second Amendment activists to focus hard on “getting involved with their sheriff and get the best sheriff elected.” He describes local involvement as a “keystone to getting our country back.”
Owens said it’s not that complicated.
Owens is not alone in believing America is under judgment.
In the aftermath of 9/11, there were repeated calls by political leaders, businessmen and media personalities to respond to the terrorist attacks that destroyed the World Trade Center by building taller and grander – following in the footsteps of ancient Israel as recorded in Isaiah 9:10, wrote bestselling author Jonathan Cahn in “The Harbinger,” which also is being presented in DVD format as “The Isaiah 9:10 Judgment.”
Most notably, the very next day, Senate Majority Leader Tom Daschle delivered an address to a joint session of Congress in which he actually cited and quoted Isaiah 9:10, explaining: “That is what we will do. We will rebuild.”
And on the fourth anniversary of 9/11, Sen. John Edwards, a candidate for vice president at the time, delivered a speech to the Congressional Black Caucus, framing his entire address around Isaiah 9:10.
The message of the bestselling Christian book of 2012 and the bestselling faith movie is that America is re-enacting an ancient drama played out thousands of years ago when Israel’s leaders did not repent and turn back to God after a limited strike on the land. Instead, their words are recorded in Isaiah 9:10, proclaiming they would simply rebuild bigger and better. The result was eventually the destruction of the nation.
Both the book and the documentary present a series of remarkable parallels between the judgment of ancient Israel and events impacting America since 9/11.
Britain could face further riots like those in summer 2011 due to the economic crisis, the Head of the International Red Cross has warned.
http://www.telegraph.co.uk – By Alice Philipson
Yves Daccord said Britain should learn the lessons of the Middle East, where economic uncertainty and a lack of options for young people helped fuel unrest.
“If the economic pressure goes on, it will have a social impact on people and if young people especially don’t see any future then you might be confronted with unrest like in 2011. There is no reason that this unrest will not repeat itself,” Mr Daccord told The World At One.
“In Egypt and Tunisia one of the drivers of the revolution was the price of food and also for a lot of young people, there was no future.
“I would be careful about comparing it with Europe, but we [Europe] can at least learn something from it. When you have a large number of people uneducated, unemployed and with no real options in front of them, you could have a violent situation.”
Mr Daccord also warned there is the prospect of further violence throughout Europe as increasing numbers of people fall into poverty.
He said the Red Cross is having to help more and more people across the continent due to cuts in State services.
Around two million people are now using the Red Cross in Spain alone.
“There are more poor people but the State has less ability to help them socially,” he said.
“[In the past] there has been a social net to take care of it [these problems].
“For the first time we have poor and unemployed people but at the same time the State have to cut their services, which means many more people have to deal with it [by themselves]. “
He added: “Today in Europe, for the first time in the last 20-30 years, there is suddenly no hope and that creates more tension.”
Five people were killed and hundreds of businesses and homes attacked in four days of rioting across England in August 2011.